OVER $2.4 million or P128 million in total sales was recorded by Davao-based small and medium enterprises (SMEs) in the recently concluded “I am Food, Coex Food Week Korea 2018” in December 2018 in Seoul, South Korea.

Based from the Department of Trade and Industry (DTI)- Davao Region year-end report, the event’s total sales breakdown include the following: a total cash sales amounting to $3,000; booked sales at $34,900; and under negotiation sales at $2,400,900.

DTI- Davao Region, regional director Ma. Belenda Q. Ambi said the event served as a venue to promote Filipino-made products like banana chips and cacao-based products in order to expand market in the international scene.

Two booths were taken to accommodate 12 participating SMEs to display value-added food products. Banana, coconut, cacao and processed, and nuts were focus industries in the event.

Ambi added the event will also help create and foster good business relation ties with South Korea.

Ambi underscored the importance of trade exhibitions in earning sales for business enterprises and for increasing business potentials.

Based from the records of DTI- Davao Region, this year a total of 34 trade fairs were conducted. Ten of which are international fairs attended by SMEs; eight where held in the country; nine trade fairs in the region; and seven municipal/provincial trade fairs.

A total of 700 SMEs attended the 34 fairs. All these amounted to P22.6 million in cash sales, P3 million booked sales, and around P62 million under negotiation sales. (GAD)